Why Email Marketing Is Better for Your Business Than Social Media
Why Email Marketing Is Better for Your Business Than Social Media
With the rise of social media marketing, sending plain text emails may seem archaic. That, however, is not the case. Indeed, when it comes to acquiring new customers and retaining existing ones, email marketing is more powerful than ever.
Even as new technology emerges daily, having an email list remains one of the most effective ways to generate leads, increase awareness, close sales, and increase conversions. If you exclude email from your digital marketing strategy, you will miss out on a plethora of potential business opportunities.
In an era when large technology companies are routinely censoring content and businesses are powerless to stop them, building an email list becomes more than a marketing accessory; it becomes a necessity. The following are six compelling reasons.
1. You are the owner of the list.
Unlike Facebook, Instagram, Linked In, or any other social media platform, your email list is entirely yours and cannot be taken away. This is the primary reason why an email list is superior to any other form of social media.
In other words, you are not reliant on algorithmic constraints. Emails give you complete control over your content; you decide how frequently to email and what to say without fear of being censored or taken down.
Clearly, social media can aid in the development of trust and credibility — but only if it reaches the intended audience. According to Hootsuite, on average, only 5.5 percent of social media followers see your content as a result of algorithm changes, machine decisions, and a slew of other uncontrollable factors.
You control your email list, and emails theoretically reach everyone. It is your responsibility to persuade your audience to open them with enticing subject lines. Keep in mind that even a strictly curated list will frequently receive open rates of 10% or higher, making email reach at least twice as effective as social media.
2. Email marketing generates the highest ROI (ROI)
Email marketing has generated enormous returns for over a decade in a row. According to the DMA, email marketing campaigns can generate a return on investment of up to 4,200 percent by 2020. In other words, the average return on investment for every dollar spent on email marketing is $42.
This means that maintaining an email list is one of the most cost-effective yet lucrative methods of reaching your audience. If done correctly, you can anticipate enormous returns. Here is how to calculate the return on investment (ROI) of your email marketing campaigns:
Assume you pay $300 per month to your email provider (ESP). This works out to $3,600 per year. Additionally, you have a marketer who is responsible for email campaigns. He/she works ten hours per week for a salary of $25 per hour. That works out to $13,000 per year.
Your email marketing costs are $3,600 plus $13,000, for a total of $16,600.
If the revenue per lead is $150 and you generate 500 leads per year through email campaigns, your total revenue increases to $75,000.
You can now calculate your return on investment using the formula (revenue-spending)/spending: ($75,000-$16,600)/$16,600 = 351.8 percent.
3. The most effective method of establishing your credibility and developing relationships is through consistent email communication.
Individuals prefer to purchase from other individuals. And they prefer to make purchases from people they know, like, and trust. Indeed, someone who is already familiar with you is up to six times more likely to make a purchase from you. Email is direct, making it more personal than any other form of social media.
The best place to begin is with your welcome email. The majority of marketers either undervalue or ignore the welcome email entirely. However, you only get one chance to make a good first impression, and it needs to be a good one if you want engaged readers.
- A good welcome email will typically include the following:
- How frequently you will email them
- What they should anticipate from your emails
- A personal story, accompanied by social proof, demonstrating your authority in your field
How to whitelist or add you as a contact so that all your emails land in their primary inbox rather than the promotions or spam folders.
Never forget that the purpose of your emails is to inform, not to sell. Each newsletter you send should aim to educate your audience about your area of expertise while also establishing trust.
4. Emails keep you at the forefront of people's minds
Every day, more than 3.9 billion people use email, a figure that is expected to grow to 4.3 billion by 2023. Additionally, 90% of these users check their email on a daily basis.
In other words, sending periodic emails to your list keeps you top-of-mind and establishes you as the go-to expert in your field. As an entrepreneur, it is your responsibility to create timely emails that engage your readers, provide valuable insights, and keep them engaged.
5. Your email list is one of the most effective methods for generating leads and closing sales.
According to a report by the Content Marketing Institute, businesses use email primarily for lead generation (85%), sales (84%), lead nurturing (78%), brand awareness (77%), and customer retention (77%). (74 percent).
Social media is a powerful tool for marketers to increase engagement and drive leads to their email lists. The true "selling" begins with lead nurturing via value-driven email campaigns. The most effective method of nurturing these leads is to remain relevant to them and their unique industry needs.
This brings us to the final reason why having an email list is preferable to using social media.
6. You can segment and personalize your list according to the adage "Be relevant or you will be deleted."
Unlike social media, your list is completely customizable in terms of personalization and segmentation. And they're quite simple to accomplish.
Indeed, nothing enhances the effectiveness of your email marketing efforts more than personalization. By segmenting and personalizing your list, you can make your readers feel special by giving them the impression that the email was written just for them.
According to Campaign Monitor, personalizing email subject lines increases open rates by 26%, and marketers who create segmented email campaigns see a 760 percent increase in revenue.
In other words, the quickest way to increase revenue is through relevance. To get the most out of your email list, ensure that you send the appropriate message to the appropriate person at the appropriate time.
Email marketing continues to reign supreme.
As an entrepreneur, your objective is to scale your business. The best way to do so is through an email list, rather than relying on social media's constantly changing rules and algorithms. Concentrate your efforts on effective email marketing campaigns by treating them as a priority rather than an afterthought, and you will reap the benefits.
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